I searched online for this kind of problem but I could not find an answer anywhere so I am adding this post for documentation purpose.
Here is what happened: I was trying to replace the alternator/generator. As fate would have it, I forgot to disconnect the battery before alternator removal process. The positive lead that came off the alternator touched the body and volla! instant fireworks. I took the lead off the body and then disconnected the battery. After the whole replacement job was done, I put the key in the ignition, and turned key into on position. All instrumentation lights came ON like Christmas lights with VCS light blinking. I can't crank the engine. Did lot of search and nothing. Then I talked with a nice fellow at Toyota Richardson, TX parts store who told me that a high-current fuse might have blown up. Or possibility that the car computer is fried (gasp!).
Came home and checked the fuse box, one of the fuse at the deepest location in the main fuse box (140A) was clearly blown. Now thing about this fuse is that it is bolted from inside of the fuse box. Following is a useful write-up I found on replacing the 140A fuse. I am going to follow these instructions.